REG - Axis Bank Ltd - Revision in Vesting Period - ESOS

Axis BankAnnouncement

24/01/2024 11:00

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RNS Number : 7896A  Axis Bank Limited  24 January 2024

AXIS/CO/CS/567/2023-24

January 24, 2024

Dear Sir(s),

 

Sub.:  Revision in Vesting Period - Axis Bank Employees Stock Option Scheme -
2000-01

 

Ref.:  Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 ("SEBI Listing Regulations").

 

In furtherance to our letter no. AXIS/CO/CS/615/2022-23 dated March 24, 2023
on the captioned subject, we wish to inform you that, based on the directions
received from the Reserve Bank of India and on recommendations of the
Nomination and Remuneration Committee, the Board of Directors of Axis Bank
Limited has today i.e. January 24, 2024, noted the revision in the vesting
period for 5,24,862 stock options granted under Axis Bank Employees Stock
Option Scheme - 2000-01. These options shall now vest equally over 4 (four)
years @ 25% every year (commencing on expiry of one year from the date of
grant) as compared to vesting of 30%, 30% and 40% options at the end of one
year, two year and third year, respectively.

 

All other terms and conditions of the above grants, including exercise price,
remains unchanged.

 

Please note that the Board Meeting commenced at 9:30 a.m. and concluded at
3:20 p.m.

 

This is for your information and records.

 

Thanking You.

 

Yours Sincerely,

For Axis Bank Limited

 

 

 

 

Sandeep Poddar

Company Secretary

 

CC: London Stock Exchange

     Singapore Stock Exchange

http://www.rns-pdf.londonstockexchange.com/rns/7896A_1-2024-1-24.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/7896A_1-2024-1-24.pdf)

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